Fraud, Flood, Fire and a Pandemic - Randy Langenderfer
Episode description
Before things get better, they get from bad to worse. This was what Randy Langenderfer experienced with a property a few years ago. First, he discovered that the property manager had been committing fraudulent acts. Then, he needed to deal with flood and fire incidents to the property, not to mention the outbreak of COVID-19.
The good thing was that he did not change course and eventually found the light at the end of the tunnel. Patience is a virtue, and Randy proved that this is a piece of advice that actually works.
[00:01 - 03:41] Opening Segment
- I welcome today’s guest, Randy Langenderfer
- Randy talks about his path to multifamily investing
[03:42 - 14:23] Dealing with Fraud, Flood, Fire, and a Pandemic
- The truth about syndication that people should know
- Randy breaks down a bridge loan
- How Randy discovered fraud in his property
- How it turned from bad to worse
[14:24 - 23:14] The Lessons that Randy Learned
- Why you should not apply for a CMBS loan
- Choose the members of your sponsorship team wisely
- The power of communicating regularly with investors
[23:15 - 26:12] Closing Segment
- Don’t miss these words of wisdom from Randy!
- Find Randy at the links below
- Final words
Tweetable Quotes:
“Don’t ever do a CMBS [Commercial Mortgage-backed Security] loan.” - Randy Langenderfer
“Communicate with your investors.” - Randy Langenderfer
Resources Mentioned
Email [email protected] to reach out to Randy or connect with him on LinkedIn and Facebook. Do you want to invest in multifamily real estate in Texas and Arizona? Check out InvestArk Properties now!
Learn more about Myers Methods of Multifamily Investing: http://bit.ly/37u6oK3
Register for Myers Methods Multifamily Investing Course: https://bit.ly/37iozkB
Learn more about the Mid-Atlantic Multifamily Conference: https://bit.ly/2V7SlCC
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.